China's LeTV plans foray into Indian mobile market

The Beijing-headquartered LeTV, which is one of the leading manufacturer-marketeers of smartphones and other smart devices, has recently set up operations in the US and intents to enter India.NEW DELHI: Chinese tech firm LeTV is planning to "build up a presence" in India to tap one of the fastest growing markets for smartphones and other smart devices.

The Beijing-headquartered LeTV, which is one of the leading manufacturer-marketeers of smartphones and other smart devices, has recently set up operations in the US and intents to enter India.

"Most people in India probably haven't heard of LeTV yet, but indications are that LeTV would soon build up a presence here to tap into one of the fastest growing markets for smart phones and other smart devices, with plans to start selling its streaming service and devices," a company release said.

The company with an employee strength of 5,000 has a market capitalisation of around $12 billion on the Shenzhen Stock Exchange.

LeTV's core streaming business has built up a library of more than 100,000 TV series and 5,000 movies. It has also started making its own premium smart TV to stream its content and beats out stalwarts like Samsung and Sony in the Chinese market.

LeTV is a 11-year old company and has grown into a full-fledged multinational with a wide range of products including smartphones, smart TVs, smart electric vehicles, movies and TV shows and sports events.

“A divorce could reshape the global wealth ranking. If the couple split their fortune equally, it could leave wife MacKenzie with $69 billion, making her world’s richest woman. It could also make Microsoft's Bill Gates the planet’s richest person once again,” reported Bloomberg. Amazon founder Bezos was dating Lauren Sanchez, a 49-year-old ex-news anchor.